Norfolk Southern Corporation (NYSE:NSC) Receives Average Rating of “Hold” from Analysts

Norfolk Southern Corporation (NYSE:NSC) has earned an average rating of “Hold” from the twenty-two ratings firms that are presently covering the firm, MarketBeat reports. Fifteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $348.00.

NSC has been the topic of a number of recent research reports. Royal Bank Of Canada increased their target price on Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Barclays upped their price objective on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Wells Fargo & Company lifted their target price on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. TD Cowen upped their price target on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th.

Norfolk Southern Stock Performance

NYSE NSC opened at $329.07 on Tuesday. The stock has a market cap of $73.91 billion, a PE ratio of 28.08, a P/E/G ratio of 4.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The firm has a 50-day moving average of $335.43 and a 200-day moving average of $315.67. Norfolk Southern has a 52-week low of $268.23 and a 52-week high of $358.60.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 EPS. On average, sell-side analysts anticipate that Norfolk Southern will post 12.87 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s payout ratio is 46.08%.

Hedge Funds Weigh In On Norfolk Southern

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NSC. Brown Lisle Cummings Inc. grew its holdings in shares of Norfolk Southern by 43.5% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 2,723 shares of the railroad operator’s stock worth $857,000 after purchasing an additional 825 shares in the last quarter. Groupe la Francaise increased its holdings in Norfolk Southern by 7.5% in the 2nd quarter. Groupe la Francaise now owns 1,479 shares of the railroad operator’s stock valued at $465,000 after buying an additional 103 shares during the period. Strategic Financial Services Inc. acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at approximately $204,000. California State Teachers Retirement System raised its position in shares of Norfolk Southern by 34,371.9% in the 2nd quarter. California State Teachers Retirement System now owns 107,455,765 shares of the railroad operator’s stock valued at $33,804,509,000 after buying an additional 107,144,045 shares in the last quarter. Finally, Washington Trust Advisors Inc. lifted its holdings in shares of Norfolk Southern by 23.8% during the 2nd quarter. Washington Trust Advisors Inc. now owns 619 shares of the railroad operator’s stock worth $195,000 after acquiring an additional 119 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.